The stock has performed as per previous given analysis and now if we see, has good support near 230-35.
Cup - handle formation - if we see on daily charts Mazdock is making cup with handle chart pattern, which is a bullish pattern. We may take position above 265 for long 280, 305 targets and stop loss near 249 which is one of the support.
Price Channel, Doji, Volume : continuation can be seen as C&H, where handle is being the price channel. It is making continuous dojis while moving downside with decreasing volumes once 262 - 65 is breached and sustained the breakout will be confirmed.
Disclaimer: these are my personal views please assure with your advisor before taking position.
Cup - handle formation - if we see on daily charts Mazdock is making cup with handle chart pattern, which is a bullish pattern. We may take position above 265 for long 280, 305 targets and stop loss near 249 which is one of the support.
Price Channel, Doji, Volume : continuation can be seen as C&H, where handle is being the price channel. It is making continuous dojis while moving downside with decreasing volumes once 262 - 65 is breached and sustained the breakout will be confirmed.
Disclaimer: these are my personal views please assure with your advisor before taking position.